What Is Dash Crypto?
Dash (DASH) is a cryptocurrency aimed at anonymity. This altcoin emerged as a refinement of Bitcoin. Dash allows you to send and receive payments around the world using a blockchain system. It protects users' identities by making transactions anonymous using DarkSend technology.
Dash Brief History
The Dash cryptocurrency project was originally developed to give crypto market participants new tools to provide an unprecedented level of anonymity to users and financial transactions within the crypto network. Protection of personal user information within the Dash crypto network is provided through the use of special network technologies developed by the creators of the Dash coin. Such technology, dubbed DarkSend, was created by analogy with the CoinJoin project, whose main goal was to anonymize transactions using Bitcoins.
What Is Dash Coin?
The Dash digital coin appeared on the cryptocurrency market in early 2014. At the same time, the creators of the asset did not conduct the procedure of preliminary mining of this crypto. The authors of the coin applied hashing technology consisting of 11 stages, which makes this coin especially secure.
On March 25, 2015, Darkcoin was introduced as Dash. After the rebranding, the Dash coin is positioned as an anonymous open-source digital currency where attention is paid to security and transaction speed.
The Dash organization system differs significantly from other cryptocurrencies. It works on the principles of decentralized autonomous organizations (DAO).
Other features also define this cryptocurrency:
- Maximum issuance is limited.
- Dash production will end in 2150.
- The amount of cryptocurrency produced will decrease by 7% every year. Until it approaches zero in 2150.
- A two-tiered system of miners and master nodes ensures security on the network.
- The consent of the master nodes is required for miners to confirm the mining of a block.
- The mining reward is divided between the master nodes and the miners, with the master nodes getting about 45%.
- A new block appears approximately every 2,5 minutes.
- The set reward per block is 5 Dash crypto coins.
Anonymity Of The Dash Cryptocurrency
Dash provides secrecy through special features. These features allow for truly confidential transactions. This is achieved by grouping several individual transactions with the same values. No one will be able to use this data to identify any of the senders. To do this, transactions are grouped by the amount of money being sent. Miners, on the other hand, are charged for the entire group at once.
Transactions go through the master nodes, which queue them for further distribution. This allows the master nodes to work together to find transactions that can be added to the group, thus obscuring the senders' identities. This ensures that the principles of blockchain verification are preserved, but the senders' identities are not revealed.
Dash is mined using the X11 algorithm. For a long time, coins based on this algorithm could not be mined using ASICs. But now there are several types of specialized equipment that support this algorithm.
Dash can be mined using video cards, processors, and ASICs built exclusively for mining.
The Dash token architecture consists of two parts. The lower level contains miners, the second level is for master nodes. These are nodes, confirming transactions. This mechanism is called PrivateSend.
The principle of the two-tier architecture allows for completely anonymous transactions. No data is stored in the system about who receives and makes transfers, and it is impossible to calculate them during network operation.
Benefits of Dash
Dash has lots of advantages:
- Publicity. It is a public project with the powerful open manager Evan Duffield.
- High speed of processing requests. The InstandSend technology allows it to process transactions in just one second. Such speed does not affect the quality of processing.
- Full anonymity. With PrivateSend and DarkSend, Dash gives full privacy for all transactions made within the network and complete safety of the money in users' accounts.
- Fast mining. The mining process is less complicated than the Bitcoin network. Much less electricity is required.
How Much Is 1 Dash Coin?
Current DASH price is 320.3819 USD.
Dash Price Prediction
The Dash price has all chances to expand soon: low-cost price, use of modern technologies, and fast growth rate. At the end of 2020, a more secure Dash Core v0.17 was released. Moreover, a new version of the Dash Platform must be released in 2021. Why is Dash coin going up? It will become safer and more user-friendly. And more and more people buy Dash thanks to these improvements.
“Eventually, I believe Dash will position itself as a direct competitor to Bitcoin. In the meantime, Bitcoin enjoys a monopoly more or less on the space, which is unhealthy.” — Evan Duffield, founder of DASH.
Dash is a promising asset that fixes two major cons of BTC. It provides instant transaction speed due to the system of nodes, and it's an anonymous cryptocurrency. Being one of the first digital coins, it's already popular among professionals and regular users. They can read the news and find out how much is a Dash coin using over 260 exchanges and brokers, and over 4,000 merchants and services accept this token today.
How To Buy DASH Cryptocurrency?
If you are looking for where to buy DASH coin, we will show you how to buy DASH cryptocurrency for another crypto using the StealthEX exchange platform. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in Dash crypto, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to DASH.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your DASH coins.